An investor makes a deductible (before-tax) contribution of $2,860 to a traditional IRA. The IRA contribution grows at an 11.14 percent before-tax rate of return compounded annually for 14 years  when it is distributed. The distribution is subject to a 32 percent tax. Calculate the dollar amount of IRA distribution the investor is left with after paying taxes.

Round the final answer to two decimal places.

Answer rating: 100% (QA)

The future value of the IRA after 14 years can be calculated as follows FV ... View the full answer